Business
SonnenEnergy announces 2008 first quarter financial results and strong revenue growth versus comparable period in 2007
TORONTO, May 30 /CNW/ - SonnenEnergy Corp. (TSX-V: PWR) ("SonnenEnergy" or "the company"), an est...
About this update from Captiva Verde Wellness Corp
[{"type":"text","content":"\n\n\n\nTORONTO, May 30 /CNW/ - SonnenEnergy Corp. (TSX-V: PWR) ("SonnenEnergy"\nor "the company"), an established photovoltaic solar power systems integrator\nand solar power producer, today announced its fiscal 2008 first quarter\nresults.\n\n\nQ1 2008 highlights:\n\n- Increased revenue by 288% to $1.58 million from $0.54 million in the\n first quarter of 2007\n- Integration business completed first sale in Italy\n- Integration business signed design, supply and installation agreement\n with The Home Depot Canada\n- Solar power production business finished Phase 1 of Solar Park Hausen\n ahead of schedule. Once operating at full capacity of 2.5 MWp Solar\n Park Hausen is expected to generate annual revenues of $1.4 million\n\nSubsequent to the end of Q1:\n\n- Solar integration business commenced construction on $6.5 million,\n 1.1 MWp solar park for a customer near Munich, Germany\n- Opened Italian sales office near Milan, Italy\n- Presented at BioFinance 2008 Conference CleanTech luncheon and\n seminar\n\n\n"We are pleased with our strong performance during the first quarter of\n2008 as we nearly tripled our revenue through a combination of new customer\nwins in our integration business and power production revenues from our\ncorporately owned solar plants," said Sudhir Morar, SonnenEnergy's President\nand Chief Executive Officer. "We are encouraged by the significant revenue\ngrowth we achieved during the first quarter, particularly in light of the\nseasonal nature of the solar industry where, historically, solar integrators\nhave realized higher power production revenues during the summer months."\n\n\n"The expansion of our operations into Italy represents a major\nopportunity for our company and, having completed our first sales in Italy\nduring the first quarter of 2008, we look forward to building our presence in\nthis market," continued Mr. Morar. "The Italian climate is extremely\nwell-suited to solar power production and the Italian government has\nestablished long-term incentives for solar power production that are in\nkeeping with our expansion strategy."\n\n\n"By the end of 2008, we plan to increase our global power production\ncapacity to a total of 10 MWp. In our integration business, we intend to\ninstall 2 MWp for third party customers this year,&q...